NIKE (NYSE:NKE) Given New $81.00 Price Target at Barclays

NIKE (NYSE:NKE) had its price target dropped by research analysts at Barclays from $84.00 to $81.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the footwear maker’s stock. Barclays‘s target price would indicate a potential downside of 2.48% from the stock’s previous close.

Other analysts also recently issued reports about the company. Citigroup reduced their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Morgan Stanley increased their target price on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and lifted their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Piper Sandler reiterated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Finally, Oppenheimer restated an “outperform” rating and issued a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $96.04.

NIKE Price Performance

NIKE stock traded down $6.07 during trading hours on Wednesday, hitting $83.06. The stock had a trading volume of 25,218,316 shares, compared to its average volume of 11,716,159. The stock has a market capitalization of $125.37 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 2.30 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The stock’s fifty day moving average is $80.26 and its two-hundred day moving average is $86.41.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. As a group, analysts predict that NIKE will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Trading of NIKE

Several hedge funds and other institutional investors have recently modified their holdings of NKE. Cim LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $14,275,000. TKG Advisors LLC acquired a new position in NIKE during the fourth quarter valued at approximately $1,012,000. Spartan Planning & Wealth Management acquired a new position in NIKE during the 4th quarter worth $182,000. Advisors Asset Management Inc. grew its holdings in NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the last quarter. Finally, Enzi Wealth bought a new position in NIKE in the 4th quarter worth approximately $520,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.